Article 71 Withdrawal of registrationF1
United Kingdom
The FCA may, on its own initiative, withdraw the registration of a trade repository where the trade repository:
expressly renounces the registration or has provided no services for the preceding 6 months;
obtained the registration by making false statements or by any other irregular means; or
no longer meets the conditions for registration.
The FCA may also, on its own initiative, withdraw the registration of a trade repository where it is desirable to do so to advance one or more of its operational objectives set out in section 1B(3) of the FSMA.
The FCA may, on an application by a trade repository, withdraw the registration of the trade repository.
The decision to withdraw the registration of a trade repository under paragraph 1, 2 and 3 shall be reflected in the Register.
Annotations
Textual amendments
- F1
Arts. 71-71b substituted for Art. 71 (31.12.2020) by The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/335), regs. 1(1), 56(2) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)